Stranger Holdings PLC Potential Acquisition Update & Directorate Change (7455U)
08 Abril 2021 - 1:00AM
UK Regulatory
TIDMSTHP
RNS Number : 7455U
Stranger Holdings PLC
08 April 2021
8 April 2021
Stranger Holdings Plc ("Stranger" or the "Company")
Potential Acquisition Update & Directorate Change
Stranger Holdings PLC, the London listed investment company, is
pleased to announce that it has signed non-binding Heads of Terms
to acquire Technology Minerals Ltd ("Technology Minerals"), which
aims to create a consolidated battery metals and battery metal
recycling group ("the Acquisition").
The Acquisition is subject, inter alia, to the completion of due
diligence, documentation, and compliance with all regulatory
requirements, including the Listing and Prospectus Rules and as
required, the Takeover Code. The Acquisition, if it proceeds, will
constitute a Reverse Takeover ("RTO") under the Listing Rules
since, inter alia, in substance it will result in a fundamental
change in the business of the issuer.
Technology Minerals is a holding company focused on becoming the
UK's first listed company to create a circular economy for battery
metals within a single group. The Board believes that this
represents an attractive opportunity as circular economies hold the
key to a viable future for the fast-growing electric vehicle
sector.
Technology Minerals is currently advancing several acquisitions,
principally focused on extracting the raw materials required for
Li-ion battery cathodes and thereby helping to solve the ecological
issue of spent Li-ion batteries by recycling them for reuse by
battery manufacturers; these will be completed at the time of the
Acquisition.
These potential acquisitions include a major recycling group,
the Recyclus Group ("Recyclus"), with whom Stranger has previously
held talks regarding an RTO. In addition, Technology Minerals has
already, or is in the process of, negotiating the acquisition of
lithium, cobalt and nickel assets based in the USA, Ireland, Spain,
and Cameroon.
To support the RTO, Technology Minerals has appointed a team of
advisors including PKF Littlejohn as reporting accountants, and
Pello Capital as stockbrokers.
Board Appointment
To help expediate the RTO process, Stranger is pleased to
announce the appointment of Mr Mark Bernard Battles as
Non-Executive Director with immediate effect.
Mr Battles (aged 54) has extensive experience working with UK
listed companies in both executive and non-executive roles. He has
particular experience working with growth businesses across a range
of sectors including renewables, natural resources, financial
services, media, marketing, telecoms, technology, and real
estate.
Mr Battles has worked extensively with private companies
offering corporate finance, consultancy and fundraising advice and
has a strong network of contacts among the professional advisory
and investment communities. He has also been involved in a number
of successful IPOs, trade exits and capital raising rounds, which
have a combined market value of approximately GBP400 million over
the last 15 years.
Furthermore, Mr Battles is a successful investor in his own
right and is the founder of the League of Angels ("the League"), an
investment society focused on supporting and promoting fast growth
British ventures with positive global impact. The League, under Mr
Battles stewardship, has grown into a thriving Investor Society and
partners with other organisations in Europe and North America.
ENDS
For further information visit www.strangerholdingsplc.com or
contact the following:
Stranger Holdings plc
James Longley Stranger Holdings plc info@strangerholdingsplc.com
Financial PR
Cosima Akerman St Brides Partners Ltd info@stbridespartners.co.uk
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END
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